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[BUSINESS] · United States · 11 sources

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Grant Thornton Advisors to acquire CBIZ in $5 billion deal

Grant Thornton Advisors has signed a definitive agreement to acquire U.S. professional‑services firm CBIZ in an all‑cash transaction valued at $5 billion. CBIZ shareholders will receive $55 per share, a 17.8% premium to the prior close and about a 54% premium to the 30‑day volume‑weighted average price, triggering a jump of roughly 17% in CBIZ’s stock after the announcement.

The deal is expected to close in the fourth quarter of 2026, subject to shareholder approval and regulatory clearances. After completion, CBIZ will be delisted from the New York Stock Exchange and become a privately‑held subsidiary of Grant Thornton Advisors. New Mountain Capital, which backs Grant Thornton, will supply additional equity to finance the acquisition.

Combined, the firms will generate nearly $7.5 billion in annual revenue and employ more than 34,500 professionals across more than 20 countries and territories, making the new entity the fifth‑largest U.S. provider of professional, tax and advisory services, behind Deloitte, EY, KPMG and PwC. The transaction also includes a plan to spin off CBIZ’s Benefits and Insurance Services segment into an independent company, also backed by New Mountain Capital.

Entities

CBIZ · CBIZ Inc. · Grant Thornton Advisors · Jerry Grisko · Jim Peko · New Mountain Capital

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